KBANK Slips Nearly 1% Prior to the Delist of “MSCI Global Standard”
KBANK slipped 1% prior to the delist from MSCI Global Standard on June 7, 2021.
Kasikornbank Public Company Limited (KBANK) closed at ฿118.50/share, declined ฿1.00/share or 0.84% with a trading value of 9,589 million baht.
The share price of KBANK traded higher in the morning session, but was in negative territory most of the afternoon. The selling pressure in KBANK came on Wednesday morning after MSCI Global Standard Indexes suddenly deleted KBANK from the index.
Earlier in May, MSCI Global Standard Indexes also deleted Kasikornbank FGN (traded in Frankfurt, Germany) from the index as well.
Capital Nomura Securities (CNS) stated that the deletion due to the limit of NVDR at 25% is reaching its cap, which will result in an outflow around 55 million dollars. The deletion will take effect on June 7, 2021.
Nevertheless, CNS added that the deletion did not have a direct impact on KBANK fundamentals and expected the decline in share price could be the opportunity to accumulate.